Custom research shares insights on findings
revealed by leading subscription services, finds streaming bundles
provide 22-point boost to NPS for internet service
providers
DALLAS, May 22, 2024
/PRNewswire/ -- Parks Associates, in partnership with Bango,
today announced the new white paper "Effective Bundling: Pain
Points and Expectations from Subscription
Leaders," featuring custom primary research of industry
leaders across the streaming video, music, education, and
productivity markets to assess the effectiveness of bundling
strategies. In this research, leading executives share their best
practices and strategies to maximize the returns of their
partnerships and to avoid and mitigate pain points.
The research white paper draws on the results of 10
interviews with executives representing leading subscription
companies across key service markets. Parks Associates consumer
research finds entertainment services lead the subscription economy
for US internet households:
- 89% have a streaming video service
- 32% subscribe to a streaming audio service
- 20% subscribe to a gaming service
- 16% have a gym membership
"Partnerships are increasingly driving acquisition and
retention," said Kristen Hanich,
Research Director, Parks Associates. "Partnerships enhance brand
awareness and market reach, reduce customer churn, and remove
friction from the user sign-up process, in addition to increasing
overall customer satisfaction."
"In a short period of time, subscription bundling has graduated
from just a distribution tactic to a fundamental driver of consumer
engagement," said Giles Tongue, VP
Marketing, Bango. "Leaders across the subscriptions world recognize
the importance of bundling at scale. It goes beyond acquisition,
delivering greater consumer satisfaction, increased longevity and
more profitable relationships. Bango technology helps many of these
leaders capitalize on Super Bundling, building mutually successful
partnerships with telcos and other bundling partners".
Executives report that bundling and partnerships offer numerous
benefits to their partners: increasing customer satisfaction as
measured by net promoter score (NPS), lowering churn, and enabling
companies to differentiate service offerings. In addition, the
white paper highlights research finding a 22-point lift in home
internet provider NPS associated with bundled streaming video
subscriptions alongside home internet service. Customer NPS is
highly correlated with the number of bundled services they receive
from their ISPs—customer who receive six or more additional
services from their provider score an average NPS of 55.
Leading executives find any bundled partnerships can be
compelling. However, telcos — including both home internet and
mobile providers — are referenced as a natural content fit for many
service types and offerings, offering a wide reach, an already
established recurring billing relationship, large marketing
budgets, and the trust of consumers.
"Successful partnerships also don't need to be one-off deals –
investing in long-term integrations, particularly with telcos, may
pay dividends," Hanich said.
To schedule an interview with an analyst or to request specific
data, please contact Mindi Sue
Sternblitz-Rubenstein at
mindi.sue@parksassociates.com or 972-490-1113.
About Parks Associates
Parks Associates, a woman-founded and certified business, is an
internationally recognized market research and consulting company
specializing in emerging consumer technology products and services.
Founded in 1986, Parks Associates provides business intelligence
and research services through its proprietary methodologies
developed over decades, including quarterly surveys of 10,000
internet households.
The company's expertise crosses many industries: home security
and smart home, streaming video, broadband and pay-TV services,
digital media and platforms, gaming, Wi-Fi and home networks,
connected health, support, consumer electronics, home control
systems, energy management, and tech solutions for the
multi-dwelling (MDU), small-to-medium business (SMB), and
commercial building markets.
Each year, Parks Associates brings thousands of leaders together
for its webinars and annual events. The firm hosts the annual
executive research and strategy conferences CONNECTIONS™, Connected
Health Summit, Smart Energy Summit, Smart Spaces, and Future of
Video. https://www.parksassociates.com
Follow Parks Associates on LinkedIn, Facebook, and
Instagram.
Media Contact:
Mindi Sue Sternblitz-Rubenstein
972-996-0212
378115@email4pr.com
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SOURCE Parks Associates